I noticed that some classes are grayed out depending on which race is chosen when creating a character, but you can still choose those classes. Is there any penalty or disadvantage to choosing such a combo? Or is it just to recognize which classes were restricted to said race in earlier versions?

I noticed that some classes are grayed out depending on which race is chosen when creating a character, but you can still choose those classes. Is there any penalty or disadvantage to choosing such a combo? Or is it just to recognize which classes were restricted to said race in earlier versions?

No penalties; it's just supposedly an unsuitable role for High-Elf. It's a pretty powerful class/race combination; good for diving. Not so good for playing slowly and clearing levels. (High-Elf advances slow, and rogue melee isn't as good as Warrior or Paladin.)